Colgate Rally Looks Long in the Tooth

Shares rise to an all-time high on news of an increased dividend and stock split. However, a rich valuation is hard to ignore.

Colgate-Palmolive put a smile on shareholders' faces Thursday by announcing a stock split and 10% hike in its dividend.

Shares of Colgate-Palmolive (ticker: CL) were up 0.34%, or 39 cents, to $115.74 in afternoon trading, after the consumer product maker said it would raise its quarterly dividend from 62 cents to 68 cents on a pre-split basis. The current yield is 2.1%. The two-for-one stock split will result in an increase in shares...